How to exchange Bitcoin for Cash

Introduction

Being engaged in mining, trading or investing, sooner or later you start wondering: “can you exchange bitcoin for cash?”, then you start looking to more profitable coin exchangers which will help to exchanged cripto-moneys to USD with minimal commission and may not decide which one is best.

This article lists most common ways to exchange-transaction BTC and looks at most reliable cryptocurrency exchangers.

Can you exchange Bitcoin for USD?

There are not many ways to swap crypto-coin to dollars or euros, but they are there, which means that it is possible to answer question, “Can you exchange bitcoin for cash?”, immediately. There are only two main types of swap: online - through Internet using various sites and services to exchange-transaction to desired currency, and offline through a face-to-face meeting (not recommended).

But debate about which one is better still persists, so let’s look at advantages and disadvantages in parallel.

Exchangers

Most users swap bitcoin for currency in online exchangers. Until recently, there were no services that would allow you to change dollars to BTC without commission. This is because commission model is only possible way to monetize conversion services.

There are exchange-transaction sites with minimal commission, to example, some services allow you to register and thereby deduct part of interest, but already now market is being conquered by a system that provides services without commissions - J2TX.

J2TX is best and special exchanger. Here you will find instant payouts, extremely fast purchases and you can even become an owner of company’s assets by buying tokens! Trading allows you to redeem or sell assets at the most favorable price of all current ones!

You won’t find anything like that, because J2TX is an environment of professionals!

Advantages of online cryptocurrency exchangers:

• Anonymity. The client does not need to pass passport data to get money. It is enough to specify transfer amount, wallet address and e-mail.

• High speed of transactions. As a rule, online exchanger transfers money to customer’s account within 5-15 minutes.

• Convenience. The interface of electronic exchangers is intuitive even for schoolchildren.

• A wide range of transfer options. Money received from sale of Coins may be transferred to almost any electronic wallets and bank cards. And some e-points even have offices in major cities and give cash to clients.

The described method of exchanging cryptocurrencies has one fat disadvantage - the probability of running into fraudsters. Due to uncertainty of legal status of crypto-coin in some countries, you should understand that Bitcoin or other cryptocurrency swap sites do not bear any responsibility. You should only rely on their name and reputation.

The only way to secure funds is to use online review sites. For example, after studying most popular reviews, you will come to opinion that there is nothing better than foreign J2TX exchanger, because here you have a wide range of functions in form of buying tokens, investing in Ethereum or even studying different fascinating articles - in general, you will not get bored with J2TX! Service is also useful because it helps you to find point with most favorable rate and low commissions.

Exchanges

Cryptocurrency exchanges are mainly used for trading or long-term investments in crypto-coin market. 2 years ago, crypto-coin exchanges began offering services to buy and swap cryptocurrencies from Visa and MasterCard. Later, regulators forced crypto-coin exchanges to verify all customers who wanted to exchange-transaction BTC to dollars or other currencies. Today, profitable BTC-swap to yoomoney, kiwi or even Tinkoff offer all crypto-coin exchanges from top 100.

But can you exchange bitcoin to cashand not to lose a percentage of deposited funds?

The commission is charged for withdrawal of funds and is an average of 3-5%. Sometimes you may transfer money to your bank card right away.

Usually exchanges offer two options to exchanging cryptocurrency online:

• instant at market rate;

• at rate set by seller himself.

Often when using trading platforms it is possible to swap crypto-coin without commission, in rare cases customer loses less money than when exchanging coins through electronic exchange-transaction sites. The only exception is little-known exchangers who charge high withdrawal fees.only exception is a little-known exchanger sites that charge high withdrawal fees.

Despite fact that btc swap through crypto-coin exchanges is a more reliable way to exchange-transaction cripto-moneys than through online exchangers, this option also carries risks of losing your deposit. They are related to following points:

• accounts on exchanges may be hacked

• the swap may close.

• the swap may close deposits or withdrawals

Accounts at such sites are often hacked, and administration is not responsible to stealing money. In addition, many sites have set limits. For example, a trader can withdraw no more than $200 at a time.

P2P platforms

The abbreviation P2P stands to “person to person”. That is, on such platforms you may independently set exchange-transaction rate of cryptocurrency and enter into transactions with individuals. As a rule, commission per transaction is purely symbolic - 0.5-1%. The risk of running into fraudsters is reduced to zero, because administration acts as a guarantor of transaction.

Today, cryptocurrency swap online is available on following P2P platforms:

• Localbitcoins

• Paxful

• Hodlhodl

Of disadvantages of such platforms for cryptocurrency exchange, it is worth noting low liquidity and time-consuming operations. In case of overvaluation of crypto-coin or sale of altcoins, buyer is likely to have to wait to several days. And most participants simply do not have large amounts of money. That is, to sell 1 BTC at a time on P2P-platform will be problematic.

Direct exchange

The cheapest and at same time riskiest way of exchanging crypto-coin. You can find a person on forums or in social networks, ready to buy coins for real money. Then agree on swap rate and arrange a personal meeting.

Unfortunately, when making a direct transaction online, risk of cheating tends to 90-95%. And since cryptocurrencies in CIS countries have a semi-legal status, there is no way to get money back through court.

How to exchange Bitcoin for cash by more non-standard ways?

If you are not impressed with options with swap of coins in crypto-exchange, crypto-exchange transaction or P2P-platform, and you are still wondering whether can you exchange bitcoin for cash using other exchange-transaction options, then there are several other possibilities of acquiring assets.

Payment Systems

Payeer, AdvCash, Perfect Money, ePayments and Webmoney have cryptocurrency accounts. Stored there funds are securely protected from theft with help of two-factor identification, SMS-authorization or one-time PIN-codes.

At any time users can exchange-transaction digital coins to fiat money, and then withdraw the amount to their bank card. Each payment system has its own rates and amounts of commissions. For example, in AdvCash you may swap crypto-coin to rubles or dollars to free, and in Webmoney losses will be 10-12%.

Cryptomats

Using cryptomats is cheapest and most convenient way to swap cryptocurrency to USD offline. Externally, such devices practically do not differ from ATMs, but provide secure transactions to buy/ swap cryptocurrencies.

In order to receive money, user must perform following steps:

• Provide passport data.

• Enter address of the crypto-coin wallet and transfer amount.

• Receive a receipt with a QR code.

• Transfer funds to specified account.

• Get a receipt confirming transaction and scan it in your device.

Unfortunately, cryptomats now have “draconian” commissions to cryptocurrency swap - 5-10%. And such devices are installed only in large cities.

Can you exchange Bitcoin for cash using J2TX?

J2TX is a universal way to exchange, buy and sell various assets with which you will immediately have no question whether may you swap bitcoin to cash. Here you can not just exchange-transaction or buy, but also invest in many coins and easily sell all coins to real money.

Additionally, taking care of its clients, service introduced possibility of making purchases of Ethereum, or investing in tokens, which give a chance to replenish invested funds by 50% of deposited amount.

Here you have an interesting block of useful information, and a variety of opportunities to exchange-transaction bitcoins for both cryptocurrencies and cash.

By choosing J2TX, you choose security, instant transactions and limitless resources for investing and learning about crypto market.

J2TX is a place of opportunity!

Q&A

What is Bitcoin?

Coin is very first cryptocurrency in world. You can get it on your wallet or send it to other users, make purchases with it in online stores, or earn on its rate on crypto-coin exchanges.

What are advantages of bitcoin transactions over traditional electronic payments?

The main advantages of BTC are decintralization (there are no administrators in network, nobody can block your wallet), BTC network is reliably protected from hacking, bitcoin-transfers provide greater anonymity. If you are going to make a large transfer, network commission on coin sending will be less than bank commissions. Anonymity and absence of current legislation in field of cryptocurrencies allows not to pay state taxes when settling in coins.

How can I earn bitcoin?

There are many ways to earn bitcoin. The main one is mining, i.e. mining cryptocurrency with help of your own equipment (computer, farm, ASIC). Coin can be bought in online swap offices or exchanges, you may get it as a payment for goods or services. If you have some spare time, you may get a small piece of BTC at the Satoshie Cranes.

What is Satoshi?

A Satoshi is smallest bit of bitcoin. It is equal to 0.00000001 BTC and named after mythical creator of coin, Satoshi Nakamoto.

Is bitcoin a pyramid scheme or an Internet scam?

No. coin itself cannot be a scam or a pyramid. The profits for new blocks are made by miners, not by coin creators. The price of BTC is regulated solely by market methods. Right now, cryptocurrency is mostly used as a means of payment, an investment or speculative asset.

But coin can also be used in schemes to defraud people, including same pyramid schemes, to example, services simulating cloud mining, fraudulent exchanges, wallets and investment funds.

Is buying bitcoin best investment decision?

No one can accurately predict BTC price in long run. At the moment, coin investments look more attractive than investments in any other asset. Predictions are varied. Most analysts agree on further growth of coin. The system itself is built so that coin issuance is limited and reward per block will decrease.

This speaks in favor of BTC growth. On other hand, aggressive policy of some coin forks and projected flowering of altcoins, which differ from BTC in much better functionality, transaction speed and fees, and better anonymity, create a danger to coin in future. So any decisions you make about investing in coin are made at your own risk and no one gives you guarantees.

Can someone manipulate bitcoin price?

Indeed, on small timeframes big holders may influence coin price by selling big amount of cripto-moneys or vice versa and starting to buy BTC massively. But these actions only cause temporary price fluctuations. Manipulators will not be able to change law of market in any way, so if you are looking for long term investments, you don’t need to worry about that.

In addition, really big holders themselves do not benefit from a long-term weakening of coin.

What is the value of Bitcoin? What are coins backed by?

Cripto-moneys price is formed solely by supply and demand to it. Coins are not secured by any material assets, but it is same situation with any fiat currencies, rubles or dollars. It is wrong to think that coin is secured by electricity it costs to mine it or by value of coin farms.

The difficulty of solving a cryptographic problem during mining changes according to hash rate of network used to find last 2016 BTC blocks. If number of miners and electricity consumed drop by times, then complexity of mining will simply decrease and process will stabilize again. So value of BTC and its purchasing power is only in society’s trust in it.

Will any cryptocurrency be able to displace bitcoin from first place?

Not in near future, but it will probably happen over time. The fact is that since 2009 bitcoin has become obsolete, and most new altcoins give technically everything that BTC gives plus additional chips. Now most altcoins have faster transactions and lower fees than BTC (there are even a number of coins with zero fees), some altcoins (Dash, Monero, ZetCash) can provide a much higher level of anonymity.

Right now coin ranks first in terms of capitalization among all cryptocurrencies mainly because of its brand, recognition and status as first crypto-coin. That may change in future. Take for example “first bell” - recent “war” between BTC and BTCcache. Besides, with its high value, cripto-money cannot give a growth of 2x in a short period, and some altcoins may rise in price tens or even hundreds of times in a day.

Visit J2TX right now, because this is place where you can buy or sell cryptocurrencies in seconds! This foreign service, where you may exchange and trade in a couple of simple steps, will provide you with a whole set of features, capabilities and tools. Buy Bitcoin or invest in cryptocurrencies? Or maybe you should buy tokens and get up to 50 from deposited amount? It’s up to you to decide!

At J2TX you exchanged coins and all doors are open to you to invest. There’s even stock trade, where you can redeem assets of top companies.

Welcome to J2TX!